Top 5 SaaS VC Funds &amp; Investors in Sri Lanka (October 2023)

SGAN is an early stage VC anchored by the multi billion dollar Thakral Group of Companies and has investments across India, Singapore and the USA.

Investment focus

Industry: E-Commerce, Software, Health Care
Stage:Seed, Angel, Series A
Geography: India, United States, Singapore

Investor stats

Total investments: 84
Round size: Seed $150k–$3M; Angel $100k–$650k; Series A $1.4M–$4M
Lead/follow: 4% lead, 96% follow

Portfolio highlights

MyCaptain — MyCaptain is an Edtech platform that helps people transform passion into a career, with guidance from 200 plus professionals who have made a mark in their respective fields.. MyCaptain aims to enable every human to pursue careers they truly love, right from Content creation, Writing, Design, to name a few, and facilitate their growth in the field.The platform aims to train more than a Million learners in new age professions in the year 2025.
Dawaa Dost — Dawaa Dost specializes in the pharmacy retail chain of generic medicines in India. The company focuses on the availability of affordable generic medicines. Dawaa Dost was founded by Amit Choudhary and Yash Harlalka and is based in India.
The Ayurveda Experience — The Most Trusted and Recognized Ayurveda Platform in North America and Australia, Your One-Stop Shop for All Things Ayurveda! Customized to your Dosha or Body Type, enabling the most personalized Ayurveda Experience. Free Shipping to most parts in the world for orders over 30 USD!

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As Canada's regional economic development agency for Western Canada, Western Economic Diversification Canada (WD) strives to maintain Western Canada’s competitive position by investing in projects and activities that help improve productivity and competitiveness through the development, adoption and commercialization of new technologies andbusiness processes. WD also supports higher value-added production and access to international markets.Abundant natural resources, thriving technology and services sectors, and low business costs make Western Canada an attractive place to do business. Its geographic proximity to Asian markets, access to inland and sea ports, and excellent transportation services to locations throughout North America have created increased efficiencies in exporting products to international markets.Western Canada is a significant contributor to the overall Canadian economy. In 2014, Western Canada accounted for 38% of Canada’s real gross domestic product (GDP) by industry and 42% of Canada’s exported goods.1 Western Canada’s export activity is closely linked to the largest economy in the world, the United States, and increasingly to the large and growing economies of the Asia-Pacific. The United States is Western Canada’s closest trading partner accounting for roughly 77% of goods exported from Western Canada in 2014. In the same year, exports to the Asia-Pacific region accounted for roughly 15% of Western Canada’s total exports; a 24% increase over the past 5 years.2Economic growth in Western Canada is anchored by the natural resources sector, with resource-based goods accounting for approximately 68% of total exported products in 2014. This focus has been a benefit to the economy by providing the foundation for the creation of industry clusters in sectors such as mining, forestry, oil and gas and agriculture.

Investment focus

Industry: Software, Health Care, Information Technology
Stage:Debt Financing, Grant, Seed
Geography: Canada, Sri Lanka, United States

Investor stats

Total investments: 31
Round size: Grant $250k–$3M; Debt Financing $276k–$2M
Lead/follow: 65% lead, 35% follow

Portfolio highlights

Co.Labs — We work with exceptional founders & teams to navigate the path from idea to $1M in annual revenue.
Platform Calgary — Platform Calgary focuses on supporting Calgary's innovation-driven companies by providing access to space, programming, and advocacy, while also championing the vision for the new Platform Innovation Centre's design, activity, and culture. The firm is formerly known as Calgary Technologies Inc. and rebranded as Platform Calgary in 2019.
Virtual Gurus — Our virtual assistants provide superhero admin support to help busy organizations accomplish more. Find out today how our assistants in Canada and the United States can help you.

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BOV Capital is a Venture Capital Firm based in Sri Lanka and Singapore.BOV Capital was established to help Sri Lankan startups capture regional and global opportunities.BOV Capital will engage with ventures across all aspects of the business.

Investment focus

Industry: Medical, Software, Textiles
Stage:Seed, Series A
Geography: Sri Lanka, Switzerland

Investor stats

Total investments: 3
Round size: Series A $1M–$5.9M
Lead/follow: 67% lead, 33% follow

Portfolio highlights

nCinga — Solvei8 is an integrated factory cloud solutions provider for the apparel and footwear manufacturing industry. Focused on innovation, agility, and customer-centricity, our company provides solutions that optimize factory processes.
Luciole Medical — Transforming cerebral monitoring for brain health.
Roar Media — Roar LK covers the deeper issues, untold tales and hidden heroes of Sri Lanka. Our content is presented in a credible and unbiased way, and always aims to inform, educate and inspire.

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The best companies, off the beaten path.

Investment focus

Industry: Software, FinTech, Financial Services
Stage:Seed, Pre-Seed, Series A
Geography: United States, Mexico, Colombia

Investor stats

Total investments: 129
Round size: Seed $1.2M–$6M; Pre-Seed $370k–$5.5M; Series A $6.8M–$30M
Lead/follow: 8% lead, 92% follow

Portfolio highlights

Instock — Instock offers a gravity-defying ecommerce fulfillment.
ZipperTax — AI copilot for tax professionals and taxpayers
EquityList — Equity management with online cap table management and employee stock option programs (ESOP) administration. Available free for Indian startups

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